Citigroup Inc. (NYSE:C) Stake Cut by Main Street Group LTD

Main Street Group LTD decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,402 shares of the company’s stock after selling 400 shares during the period. Main Street Group LTD’s holdings in Citigroup were worth $99,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Core Alternative Capital increased its position in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the period. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the 4th quarter worth about $35,000. Webster Bank N. A. lifted its position in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Sierra Ocean LLC acquired a new position in Citigroup during the 4th quarter valued at about $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $39,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE:C opened at $75.55 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $142.20 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The stock has a fifty day moving average of $67.70 and a 200-day moving average of $71.69. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is currently 35.39%.

Insider Activity

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,007 shares of company stock worth $8,824,653 over the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on C. Royal Bank of Canada reduced their price objective on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Piper Sandler restated an “overweight” rating and set a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Bank of America decreased their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.04.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.